5 Stocks to Buy According to James Morrow’s Callodine Capital Management

4. Ares Management Corporation (NYSE:ARES)

Callodine Capital Management’s Stake Value: $13,362,000
Percentage of Callodine Capital Management’s 13F Portfolio: 3.95%
Number of Hedge Fund Holders: 30

Ares Management Corporation (NYSE:ARES), a global alternative investment manager, provides customers with complementary primary and secondary investment alternatives in the asset classes of infrastructure, private equity, real estate, and credit. Mick Hellman’s HMI Capital is the leading shareholder of Ares Management Corporation (NYSE:ARES), with 3.80 million shares worth over $216.01 million.

Benjamin Budish, an analyst at Barclays, initiated coverage of Ares Management Corporation (NYSE:ARES) on August 31, rating the stock as ‘Overweight’ with a $92 price target. The analyst began with a positive outlook on the brokers, asset managers, and exchange area.

Callodine Capital Management has owned a stake in Ares Management Corporation (NYSE:ARES) since Q2 2019. The hedge fund increased its stake in Ares Management Corporation (NYSE:ARES) by 91% in the second quarter of 2022. As a result, the fund held a total of 235,000 shares worth $13.36 million as of June 30, making Ares Management Corporation (NYSE:ARES) the fourth-largest stock in its 13F portfolio.

Hedge funds had a bullish outlook on Ares Management Corporation (NYSE:ARES) in Q2, as the stock was in 30 hedge fund portfolios at the end of the second quarter, up by eight positions from the prior quarter.